Powerboat Sales on the Decline
Are gas prices for another declining market? BYM News reveals the report from the National Marine Manufacturers Association (NMMA) that says registrations for new powerboats fell 3 percent in the third quarter of 2007 and 7 percent year-to-date through September. A total of 352,418 new powerboats were registered in the U.S. for the rolling 12-month period through the third quarter of the year. The Providence Journal reports that Thom Dammrich, president and CEO of the NMMA, speaking on National Public Radio Monday said that boat sales nationwide may have fallen more than 10 percent last year. The areas of the marine market that grew included ski/wakeboard boats and personal watercraft and the no-gas-required kayaks and canoes. The NMMA has found that more and more people are getting interested in boating, which could bode well for the industry once economic tensions ease.